Renasant Bank Sells 2,595 Shares of Eaton Corporation, PLC $ETN

Renasant Bank decreased its position in shares of Eaton Corporation, PLC (NYSE:ETN) by 70.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,101 shares of the industrial products company’s stock after selling 2,595 shares during the period. Renasant Bank’s holdings in Eaton were worth $393,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ETN. IMA Advisory Services Inc. acquired a new position in shares of Eaton during the 1st quarter worth about $25,000. Saudi Central Bank bought a new position in Eaton in the 1st quarter worth approximately $42,000. Flagship Wealth Advisors LLC lifted its holdings in shares of Eaton by 125.0% during the first quarter. Flagship Wealth Advisors LLC now owns 180 shares of the industrial products company’s stock worth $49,000 after buying an additional 100 shares during the last quarter. SOA Wealth Advisors LLC. boosted its position in shares of Eaton by 36.0% in the second quarter. SOA Wealth Advisors LLC. now owns 136 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 36 shares during the period. Finally, Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Eaton in the first quarter worth $54,000. 82.97% of the stock is owned by institutional investors and hedge funds.

Eaton Trading Down 3.2%

NYSE ETN opened at $367.50 on Wednesday. Eaton Corporation, PLC has a 12 month low of $231.85 and a 12 month high of $399.56. The stock has a 50-day simple moving average of $371.49 and a 200 day simple moving average of $353.33. The company has a current ratio of 1.24, a quick ratio of 0.76 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $142.74 billion, a PE ratio of 36.97, a P/E/G ratio of 2.77 and a beta of 1.19.

Eaton (NYSE:ETN) last posted its earnings results on Tuesday, November 4th. The industrial products company reported $3.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.06 by $0.01. The company had revenue of $6.99 billion during the quarter, compared to analyst estimates of $7.09 billion. Eaton had a return on equity of 23.91% and a net margin of 15.11%. Eaton has set its Q4 2025 guidance at 3.230-3.430 EPS. FY 2025 guidance at 11.970-12.170 EPS. Research analysts forecast that Eaton Corporation, PLC will post 12.02 EPS for the current year.

Eaton Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 21st. Shareholders of record on Thursday, November 6th will be paid a $1.04 dividend. This represents a $4.16 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, November 6th. Eaton’s dividend payout ratio is presently 41.60%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ETN. Mizuho increased their target price on shares of Eaton from $385.00 to $425.00 and gave the company an “outperform” rating in a research note on Friday, October 17th. Citigroup increased their target price on Eaton from $438.00 to $442.00 and gave the stock a “buy” rating in a report on Thursday, October 9th. Royal Bank Of Canada boosted their price target on Eaton from $425.00 to $432.00 and gave the company an “outperform” rating in a research note on Wednesday, November 5th. Wall Street Zen cut Eaton from a “buy” rating to a “hold” rating in a research report on Saturday, September 13th. Finally, JPMorgan Chase & Co. lifted their price objective on Eaton from $429.00 to $440.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Eaton presently has an average rating of “Moderate Buy” and an average target price of $403.23.

Insiders Place Their Bets

In other news, Director Gerald Johnson purchased 100 shares of Eaton stock in a transaction dated Friday, October 31st. The shares were bought at an average cost of $384.33 per share, with a total value of $38,433.00. Following the completion of the transaction, the director directly owned 200 shares in the company, valued at $76,866. This trade represents a 100.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.30% of the company’s stock.

Eaton Profile

Eaton Corporation plc operates as a power management company worldwide. The company’s Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.